Binance Announces Flagship Platform for VIP, Institutional Investors

Binance crypto exchange is looking to bring a focussed-platform for VIP and institutional investors in order to offer them specially-tailored services. Named ‘Binance Institutional’, this flagship programme will extend improved and upgraded financial services around crypto assets. The service will offer rewards with discounts and other privileges to big-capital investors. The services will be customised to suit the needs of different institutions. Binance, with this, is aiming at increasing its trading value records in the VIP tiers.

“On top of a comprehensive product suite and exceptional market liquidity, Binance Institutional offers customised solutions for all types of institutional users, including corporates, asset managers, brokers, hedge funds, family offices, liquidity providers, proprietary trading firms, miners, high-net-worth individuals (HNWIs), and more,” a blog post by Binance said in a statement.

The crypto exchange will be offering asset management, custody, broker programme, liquidity services, trading solutions, as well as data and reporting features within its new initiative.

Crypto experts are known to say that institutional investments play a vital role in maintaining a balance in the crypto market, especially amid low trading days.

In 2021 alone, crypto-related firms collectively raised more than $30 billion (roughly Rs. 2,27,617 crore) from venture capital firms, making it the highest collection so far. In 2018, the same number was $8 billion (roughly Rs. 60,704 crore).

Hence, Binance’s decision to lay its focus on big investors does not seem like much of a surprise.

At this point, with crypto exchanges like Bybit, Coinbase, BlockFi, and Cryptocom laying-off employees to keep business efficient — Binance US is seemingly taking a different approach to keep its businesses afloat.

Last week, Binance US said it was expecting to raise around $50 million (roughly Rs. 390 crore) in funding the continuation of its seed round of investments in the coming days.

In recent times, Binance has been strengthening its legal teams in several parts of the country, as it ramps efforts to score operational licences around the world.

Binance now also has operational licences in three UAE regions including Bahrain, Abu Dhabi, and Dubai.

In April, Binance US officially received approvals to operate as a money transmitter in Puerto Rico.

Affiliate links may be automatically generated – see our ethics statement for details.

Source link

Related posts

Crypto Price Analysis Dec-23: ETH, XRP, ADA, BNB and DOT

Marine Savard

Will Bitcoin Price Keep Pumping To $20,000? Watch This Now

Marine Savard

Fed Decision Looms Over Financial Markets, Is Bitcoin Safe?

Marine Savard

BTC can remain sturdy in the final days of 2022 despite this let down from miners

Marine Savard

DOGE/USD Moves to Hit $0.093 Level

Marine Savard

Cryptocurrency Price Prediction: XRP, Shiba Inu, Dogecoin, LUNC

Marine Savard

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More